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Note 22 - Parent Company-only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Condensed Balance Sheet [Table Text Block]

CONDENSED BALANCE SHEETS
December 31, 2021 and 2020
(In thousands)		As of December 31,
		2021				2020
ASSETS
Cash and due from banks		$	377			$	548
Investment in subsidiary			96,799				91,836
Other assets			149				1,104
Total assets		$	97,325			$	93,488
LIABILITIES AND SHAREHOLDERS' EQUITY
Borrowings		$	29,930			$	29,819
Accrued expenses and other liabilities			51				450
Shareholders' equity			67,344				63,219
Total liabilities and shareholders' equity		$	97,325			$	93,488

Condensed Income Statement [Table Text Block]

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Years Ended December 31, 2021, 2020 and 2019
(In thousands)		Year ended December 31,
		2021				2020				2019
Expenses:
Interest on subordinated debt		$	287			$	347			$	476
Interest on senior debt			1,567				1,569				1,571
Total interest expense			1,854				1,916				2,047
Other expenses			173				159				214
Loss before benefit for income taxes			2,027				2,075				2,261
Benefit for income taxes			(540	)			(532	)			(504	)
Loss before equity in undistributed net income of subsidiary			1,487				1,543				1,757
Equity in undistributed net income (loss) of subsidiary			6,581				(2,276	)			(1,060	)
Net income (loss)			5,094				(3,819	)			(2,817	)
Equity in subsidiary other comprehensive income, net of subsidiary			(1,119	)			(115	)			423
Total comprehensive income (loss)		$	3,975			$	(3,934	)		$	(2,394	)

Condensed Cash Flow Statement [Table Text Block]

CONDENSED STATEMENTS OF CASH FLOWS
Years Ended December 31, 2021, 2020 and 2019
(In thousands)		Year ended December 31,
		2021				2020				2019
Cash Flows from Operating Activities:
Net income (loss)		$	5,094			$	(3,819	)		$	(2,817	)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed income of subsidiary			(6,581	)			2,276				1,060
Dividends received from Patriot Bank, N.A.			500				2,000				-
Share-based compensation expense			150				159				214
Amortization of debt issuance costs			111				112				112
Change in assets and liabilities:
Decrease (increase) in other assets			955				(540	)			(505	)
(Increased) decrease in accrued expenses and other liabilities			(399	)			(315	)			315
Net cash used in operating activities			(170	)			(127	)			(1,621	)
Cash Flows from Investing Activities:
Net (increase) decrease in investment in Patriot Bank N.A.			(1	)			8				-
Net cash (used in) provided by investing activities			(1	)			8				-
Cash Flows from Financing Activities:
Dividends paid on common stock			-				-				(155	)
Net cash used in financing activities			-				-				(155	)
Net decrease in cash and cash equivalents			(171	)			(119	)			(1,776	)
Cash and cash equivalents at beginning of year			548				667				2,443
Cash and cash equivalents at end of year		$	377			$	548			$	667
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest		$	1,570			$	1,776			$	1,593
Cash paid for income taxes		$	-			$	-			$	-

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Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

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-Publisher SEC
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-Number 210
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